Course Outcome
- Identify and define key concepts of Ind AS, including Ind AS 2 (Inventory Valuation), Ind AS 18 (Revenue Recognition), Ind AS 20 (Accounting for Government Grants), Ind AS 23 (Borrowing Costs), and Ind AS 17 (Lease Accounting).
- Explain the principles, scope, and procedures for preparing and auditing financial statements, covering essential issues like inventory, depreciation, tax provisions, and managerial remuneration as per revised Schedule VI.
- Apply accounting standards and financial statement preparation techniques to solve advanced problems related to final accounts, accounts of packages and containers, hire purchase trading accounts, and lease accounting.
- Analyze complex financial transactions, including borrowing costs, lease arrangements, government grants, and hire purchase transactions, and assess their impact on financial statements.
- Critically evaluate accounting treatments and disclosure requirements under Ind AS, ensuring compliance with Schedule VI and other regulatory frameworks, and assess the effectiveness of auditing procedures.
